A key component in driving responses to the climate crisis is making sure that its risks and costs, as well as the opportunities and benefits of its solutions, are accurately reflected in our financial frameworks, be they a company’s accounting system or a government’s budget. In an effort to improve the latter, the International Monetary Fund has published a paper that explores the role of fiscal policies in climate change strategies. This is part of a broader range of initiatives that the IMF is undertaking to ensure that macro-fiscal and financial frameworks reflect climate resilience, that the fiscal and financial impacts of climate policy choices are properly assessed, and that climate risk is mainstreamed into its country assessments.
Discussing the role of fiscal policy on the IMF podcast, The World Resources Institute’s President and CEO Dr. Andrew Steer said: “Done smartly, there will be an economic gain of $26 trillion in GDP between now and 2030, and there would be another 67 million jobs created”. Listen to the whole interview by following the link below.